Generali Investments Management Co LLC Has $1.12 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Generali Investments Management Co LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 57.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,909 shares of the software company's stock after selling 3,893 shares during the quarter. Generali Investments Management Co LLC's holdings in Adobe were worth $1,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vest Financial LLC grew its position in shares of Adobe by 73.4% in the 1st quarter. Vest Financial LLC now owns 4,497 shares of the software company's stock valued at $1,725,000 after buying an additional 1,904 shares during the last quarter. Breakwater Capital Group lifted its stake in shares of Adobe by 165.3% in the first quarter. Breakwater Capital Group now owns 1,353 shares of the software company's stock worth $519,000 after acquiring an additional 843 shares during the period. Lake Street Private Wealth LLC lifted its stake in shares of Adobe by 19.0% in the first quarter. Lake Street Private Wealth LLC now owns 9,008 shares of the software company's stock worth $3,455,000 after acquiring an additional 1,440 shares during the period. HF Advisory Group LLC boosted its holdings in Adobe by 17.2% in the first quarter. HF Advisory Group LLC now owns 3,630 shares of the software company's stock valued at $1,392,000 after acquiring an additional 532 shares during the last quarter. Finally, Bay Rivers Group increased its position in Adobe by 19.9% during the 1st quarter. Bay Rivers Group now owns 975 shares of the software company's stock valued at $374,000 after purchasing an additional 162 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. BMO Capital Markets lowered their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. UBS Group dropped their target price on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Summit Redstone set a $410.00 price target on Adobe in a report on Wednesday, March 19th. Finally, DA Davidson lowered their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Stock Performance

ADBE opened at $415.20 on Friday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a market cap of $176.96 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.15 and a beta of 1.55. The company's fifty day moving average price is $380.73 and its two-hundred day moving average price is $425.81. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the business posted $4.48 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

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